NO Bailout...explained.

Simple explanation...without partisan politics.

YouTube - Ron Paul Votes NO BAILOUT (Speech on the House Floor) (9-29-08)

I've always been proud of my country. I'm also bitter...I'm religious...and I cling onto my Guns...

Let me add another link to the thread

Commentary: Bankruptcy, not bailout, is the right answer - CNN.com

Oh snap, I just posted that in another thread. LoL.
This article is very good, and has echoed some points I made... like people will lend money anyways, it will just be done more carefully, and with a higher percentage rate/risk ratio.

go film - we can all be gods - go film - we will all be heroes - go film - we are all immortal - go film - we will all be safe - go film - we are all illusions - go film - and we can never touch

read it..
five will get you ten he is a neocon republican whose publications endorse free market principles. You can tell just by WHEN he pins the "start".

Nobody seems to notice that there was no big rush of defaults until the last 6 years.

I heard one neocon suggest an INSURANCE scheme- this guy has a bankruptcy scheme...

I hear NO scheme that does not cost big money. One way or another.


The author makes a LOT of statements about what will likely happen without ONE IOTA of historical precedent to back him up.

HE just SAYS things will not be as dire as feared...

Let's see his economic model that, First, PREDICTED these events... and THEN i will trust his economic model that predicts a less dire result.


I do think the Bail out as written was too rushed...


Here's what I think would work... the government passes a law that they WILL borrow up to $700 billion to avert the crisis, but makes NO specific promise how it will be allocated.

This is just to bolster confidence and flatten out market swings...

THEN they appoint an independent and qualified guy, Like Warren Buffet, to head a NON partisan ( i.e. NO politicans allowed- and no economist on the payroll to either party) Group to examine the situation and come up with plans on how best to allocate funds...

Not bailing out firms, necessarily, but acting where needed to keep markets liquid, and coming up with options for addressing other cirses sure to emerge.
Take a little more time to THINK thru the causes and consequences....


But, whatever the plan, it had better happen quick... banks are failing in Europe now.

Here in NZ, things are getting a little worried, but nothing major has happened here, other than purse strings being pulled in a bit tighter.

The media here is VERY scathing of the American economy, financial tactics and money markets, generally speaking.

Am not interested in the blinkered, small minded bigotry of the naive, dogmatic, insular zealots and patriots that infest this site. If you find that offensive, then you're probably one of them!
We're all here to have a laugh maybe even learn a bit, so go bitch, gossip and back bite where you know it's welcome.
Then again, if something you read offends you, how about you check the original meaning and intent by 'asking', before you over eagerly grasp the mantel of victimization.

It can all be explained in two and a half minutes. I never knew it was that simple

And so the Senate is busily putting lipstick on a pig and plans to vote on it Wed. night?

Fortune tellers?
No, I know these people from the Ron Paul movement.
back in Sep 2007, when these were added to youtube, the market was still strong, the dow was just coming off a high of 14,200 or so.....

YouTube - The inevitable collapse of the dollar

http://www.youtube.com/watch?v=XaxdUPNYj2s

go film - we can all be gods - go film - we will all be heroes - go film - we are all immortal - go film - we will all be safe - go film - we are all illusions - go film - and we can never touch

Goldman saw the crap coming at the end of 2006. Those guys are sriously smart and I don't have an issue with them taking advantage of a situation that we allow to happen. This is an interesting read. http://www.nytimes.com/2008/09/28/bu...ewanted=1&_r=1

I can't see that it shouldn't cost big money Phil. The assets have to be liquidated one way or another. The question is who should take the hit? I personally don't think a bailout will solve the problem, it might stem the tide and reduce problems in quality economic areas. The terms of the bailout should be clear that it is a stop gap until a commission finds who is responsible for what and makes them carry the can. Ultimately, I think the hurt will be shared by all those involved, Banks, Government and the consumers, because there has to be a level of caveat emptor.

We are responsible for our governments in a democracy, which is why we are dumbfucks, and we will have to shoulder our share of the cost.

Signature under construction.

I love Ron Paul. I know if he were president he'd try and wreak havoc, but whatever reputation McCain has as a straight shooting straightforward politician pales in comparison to Ron Paul.

Bananaphone!

What the f*ck are they doing at time like this... squeezing in earmarks??????

This should of been an emergency-only bill, we don't have time nor the risk for this shit.

New Tax earmarks in Bailout bill
- Film and Television Productions (Sec. 502)
-Wooden Arrows designed for use by children (S ec. 503)
- 6 page package of earmarks for litigants in the 1989 Exxon Valdez incident, Alaska (Sec. 504)

Tax earmark "extenders" in the bailout bill.
- Virgin Island and Puerto Rican Rum (Section 308)
- American Samoa (Sec. 309)
- Mine Rescue Teams (Sec. 310)
- Mine Safety Equipment (Sec. 311)
- Domestic Production Activities in Puerto Rico (Sec. 312)
- Indian Tribes (Sec. 314, 315)
- Railroads (Sec. 316)
- Auto Racing Tracks (317)
- District of Columbia (Sec. 322)
- Wool Research (Sec. 325)

Some of my classic cumshots
11 shot 8 foot cumshot
First person view
Raining down on you
A 'jackson pollock'
...

Screwing us over.
Congress does that every day.

I wonder how many of these originated with fucking Jack Murtha trading Democratic votes for earmarks?

Yes, my Marvin Gaye avatar was sketched by yours truly.

TheBomb

The Strength of the Market is meaningless. The stronger it appears, the riskier people behave.


The whole POINT of such things as "bubbles" is that a frenzy of speculation and "get rich quick" movements within the culture coalesce into a FALSE rise in the market.

Thus far the proximate cause in all of this seems to be the origin of new loan products whose formulae were so arcane that Loan packagers were hiring Physicists to do the math.

The rating agencies rated these new loan products at triple A, even though they had no idea what the bizarrely complex formulae really meant.

These triple A rated assets were then bought up by Fannie and Freddie and further distributed throughout the world- getting snapped up due to the long history of triple A rated instruments being secure.

So- a good hard look at who is running Moodys, Fitch, S&P is in order-
And an investigation into the Loan originators...

I just listened to an episode of This American Life where they covered an AWARDS ceremony...
folks in the lending industry giving out fucking awards to the braniacs who "invented" these new products.

I am sick to death of republican blame shifting and bullshit talk about the "irresponsible" borrowers...

These were FAULTY products 'manufactured' by U.S. corporations and PUSHED to the consumer as "safe".
Further pushed to the entire financial sector as triple A safe.

The companies that need to take this on the chin are the folks who INVENTED these products and the folks who gave them the safest rating.

A ton of these securities were sold to Europeans. I wonder what they think of us right now.